Agreement Between A Buyer And A Seller About Payment For Merchandise

The deposit is a certain amount of money that a buyer gives to a seller as collateral that he follows during the transaction. If the buyer decides to buy, the down payment goes to the purchase price. The down payment can be repaid or not repaid, which means that the down payment is either refunded to the buyer or retained by the seller if the agreement is not made. 10.1 Under these conditions, „Incoterms“ are the international rules for interpreting the trade terms of the International Chamber of Commerce, as they are in force at the time of the contract. Unless otherwise of the context is made, any term or expression defined in the provisions of Incoterms or having a particular meaning has the same meaning under these conditions, but if there is a contradiction between the provisions of Incoterms and those conditions, it prevails. 10.2 When goods are delivered for export from the United Kingdom, the provisions of this clause 10 (subject to specific written conditions between buyer and seller) apply independently of other provisions of these conditions. 10.3 The buyer is responsible for complying with the legislation or rules relating to the importation of the goods into the country of destination and notifying the seller of the requirements of such laws or regulations which require measures on the part of the Seller and payment of taxes relating to the goods. 10.4 Unless the buyer and the seller have a written agreement to the contrary, the fOB merchandise is delivered from the air or sea port of the shipment and the seller is not required to notify it in accordance with section 32, paragraph 3, of the Goods Sales Act 1979. 10.5 The buyer is responsible for checking and inspecting the goods before shipping to the Seller. The seller is not responsible for claims relating to a defect in the goods that would be detectable during the inspection and which is carried out after the transfer or in connection with the damage suffered during transport. 10.6 Payment of all monies due to the Seller is made in a written agreement between the Seller and the Buyer. One way or another, you will want to make sure that you have a written agreement to make sure it sails smoothly until the money and goods have been exchanged, and that you and the other party will want to know what to do if there is a hiccup on the way.